Ameriprise Financial Inc. Sells 2,914 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Ameriprise Financial Inc. trimmed its position in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 2.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 107,298 shares of the utilities provider's stock after selling 2,914 shares during the period. Ameriprise Financial Inc. owned about 0.30% of MGE Energy worth $10,082,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Sterling Capital Management LLC grew its stake in shares of MGE Energy by 656.2% during the fourth quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider's stock worth $63,000 after purchasing an additional 584 shares during the period. Smartleaf Asset Management LLC boosted its holdings in MGE Energy by 507.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider's stock worth $105,000 after buying an additional 929 shares during the last quarter. KBC Group NV grew its position in shares of MGE Energy by 32.2% during the 4th quarter. KBC Group NV now owns 1,478 shares of the utilities provider's stock worth $139,000 after buying an additional 360 shares during the period. Farther Finance Advisors LLC increased its stake in shares of MGE Energy by 7,321.7% in the 4th quarter. Farther Finance Advisors LLC now owns 1,707 shares of the utilities provider's stock valued at $160,000 after acquiring an additional 1,684 shares during the last quarter. Finally, EnRich Financial Partners LLC increased its stake in shares of MGE Energy by 8.7% in the 4th quarter. EnRich Financial Partners LLC now owns 1,744 shares of the utilities provider's stock valued at $164,000 after acquiring an additional 139 shares during the last quarter. 52.58% of the stock is owned by institutional investors and hedge funds.

MGE Energy Trading Up 0.5%

NASDAQ:MGEE traded up $0.46 on Friday, reaching $89.99. The company's stock had a trading volume of 78,053 shares, compared to its average volume of 139,170. MGE Energy, Inc. has a 1-year low of $72.27 and a 1-year high of $109.22. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.94 and a current ratio of 1.41. The firm has a market cap of $3.29 billion, a PE ratio of 27.52 and a beta of 0.80. The business's 50-day moving average price is $90.72 and its two-hundred day moving average price is $93.42.

MGE Energy (NASDAQ:MGEE - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.16. The business had revenue of $218.97 million for the quarter, compared to analysts' expectations of $202.42 million. MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. Equities research analysts anticipate that MGE Energy, Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, May 30th. MGE Energy's dividend payout ratio is 50.85%.

Wall Street Analyst Weigh In

MGEE has been the topic of several recent analyst reports. Morgan Stanley reduced their price objective on shares of MGE Energy from $75.00 to $74.00 and set an "underweight" rating on the stock in a research note on Thursday. LADENBURG THALM/SH SH raised shares of MGE Energy to a "strong sell" rating in a research report on Friday, May 9th.

Insider Transactions at MGE Energy

In other MGE Energy news, Director James G. Berbee purchased 446 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was bought at an average cost of $90.83 per share, with a total value of $40,510.18. Following the purchase, the director now directly owns 11,532 shares of the company's stock, valued at $1,047,451.56. The trade was a 4.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.19% of the stock is owned by insiders.

MGE Energy Company Profile

MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in the United States. It operates through Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other segments. The company generates, purchases, and distributes electricity and natural gas in Wisconsin and Iowa; owns and leases electric generating capacity; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission power services.